1st July 2014.
The Generic Medicines Industry Association (GMiA) today welcomes its newest member, Sandoz. The inclusion of Sandoz cements GMiA as the generic medicine sector’s premier representative body. GMiA represents all major generic medicine suppliers in Australia and more than 90% of all generic medicines dispensed in Australia.
Members of GMiA ensure that all Australians are offered the highest quality generic medicines in the world whilst providing affordable community health outcomes that benefit all Australians. Members of GMiA take seriously their role in the responsible provision of generic medicines in Australia. Members of GMiA make high quality medicines affordable for all Australians, today and for the future.
Generic medicines are high quality medicines delivering affordable health for all Australians. Every time a generic medicine is dispensed in Australia in place of the original brand, savings are delivered to the national economy.
Generic medicines drive savings that help ensure the sustainability of arguably the world’s most highly regarded subsidised medicines system, the Pharmaceutical Benefits Scheme (PBS). Price reforms to generic medicines on the PBS recently have delivered far greater savings than expected. In 2007, major reforms were introduced to the PBS that were designed to save $3 billion over ten years. The current projected savings from generic medicines on the PBS for the ten-year period are of the order of about $20 billion.
With our member base supplying more than 90% of generic prescription medicines dispensed in Australia, GMiA is a key stakeholder within the pharmaceutical sector, providing a singular, united voice of representation on issues of supply of generic medicines. ENDS